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CDFA Revolving Loan Fund Finance Update - July 9, 2019

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Revolving Loan Funds Update
July 9, 2019
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Revolving Loan Fund Finance Update

Features

OMEGA Closes on Largest Loan in Fund History
The Ohio Mid-Eastern Governments Association recently closed on the largest loan in it's Revolving Loan Fund's history, and the business on the receiving end of the loan is up and running in its new, expanded facility. OMEGA partnered with Huntington Bank to finance the expansion project, with the RLF accounting for 15 percent of the project.

Three NE Communities Join Forces with Shared RLF for Housing
A unique cooperative housing agreement between McCook, Benkelman and Cambridge has received a major vote of confidence from the Nebraska Department of Economic Development. The McCook Economic Development Corp. was awarded $405,600, which it will use to finance a unique revolving loan fund created in partnership between the three communities.

IL Gov. Signs $45B Infrastructure Construction Bill
Illinois Gov. J.B. Pritzker signed a $45 billion state construction bill. The state's capital plan entitled Rebuild Illinois will fund infrastructure and facilities projects for the next six years and includes appropriations for transportation projects, higher education institutions, state facilities, and environmental conservation, including $150 million toward the Anti-Pollution Bond Funds for the Illinois EPA Water Revolving Fund Program.

ID City Receives $3M in Drinking Water Construction Loan
The City of Athol in Kootenai County has been awarded a $3,286,000 dollar low-interest drinking water construction loan by the Idaho Department of Environmental Quality. The funding will be used to construct a new water system for the town and includes demolishing two existing water reservoirs, modifying an elevated water reservoir, constructing a standpipe and water main, adding a transmission line, electrical, pump and building upgrades.

Cleveland, TN Receives $1.7M for Drinking Water Improvements
The city of Cleveland will receive a $1.7 million construction loan from the State Revolving Fund Loan Program for clean water and infrastructure improvements. The loan will help improve water and wastewater infrastructure that is critical for improving water quality and protecting public health.

NC Senate Clears RLF for Rural Hospitals
A state-funded loan program for struggling rural hospitals easily passed the state Senate. The bill sets up a revolving fund of low-interest loans to help rural hospitals overhaul their operations, in part to make them more attractive to larger hospital groups that might want to buy them.

Business and Community Leaders Back $100M RLF for Affordable Housing
Business and community leaders are putting $100 million into a new "Housing Action Fund" to encourage the development of affordable housing in Franklin County, Ohio. Financed entirely by private-sector contributions and investments, the fund will offer low-cost loans to for-profit and nonprofit developers who commit to certain affordability requirements in their rental pricing.

EPA Announces $9.3 M in Funds for Brownfield Sites Across the U.S.
The U.S. Environmental Protection Agency (EPA) is announcing $9.3 million in supplemental funding for 24 current successful Brownfields Revolving Loan Fund (RLF) grantees. The supplemental funds announced today are going to communities that have demonstrated success in using their RLF funds to clean up and redevelop brownfield sites.

Upcoming Events
CDFA Summer School

CDFA // BNY Mellon Development Finance Webcast Series: Capital for Main Street
Tuesday, July 16, 2019 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will explore some of the creative financing tools that are being utilized in Main Street Communities around the country.

Headlines

Atlanta Mayor Introduces Legislation to Establish Community Loan Fund with Invest Atlanta
ADW News | Jul. 9 | Access to Capital | Local Finance Program | Revolving Loan Funds (RLFs) | Access to Capital\Revolving Loan Funds (RLFs)

Telluride Regional Loan Fund to Help Rural Businesses
Montrose Daily Press | Jul. 9 | Access to Capital | Revolving Loan Funds (RLFs) | Rural Development | Access to Capital\Revolving Loan Funds (RLFs)

HI Gov. Signs Bill Adding $210M to State Affordable Housing Funds
Pacific Business News | Jul. 8 | Housing Finance | Revolving Loan Funds (RLFs) | State Finance Program

Michigan City, IN RLF Helps Local Business Create Jobs
The Michigan City News Dispatch | Jul. 8 | Access to Capital | Local Finance Program | Revolving Loan Funds (RLFs) | Access to Capital\Revolving Loan Funds (RLFs)

TX City to Receive $1M in Disaster Recovery Funds
Hill Country Community Journal | Jul. 7 | Access to Capital | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | Water Finance

Inflatable Aquatic Playground Coming to MI
WZZM | Jul. 3 | Access to Capital | Community Development | Revolving Loan Funds (RLFs)

Texarkana, TX Gets $400K in EPA Brownfields RLF
Texarkana Gazette | Jul. 2 | Access to Capital | Brownfield Financing | Community Development | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA)

Cleveland, TN to Receive $1.7M in Drinking Water Loan
The Chattanoogan | Jul. 1 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Business Loan Program Boosts Minorities, Women
Daily Gazette | Jun. 30 | Access to Capital | Revolving Loan Funds (RLFs)

IA Depends on Finding More Young Farmers
The Gazette | Jun. 25 | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Rural Development

Small Town Businesses in IA Use RLF
The Gazette | Jun. 17 | Access to Capital | Community Development | Economic Development | Revolving Loan Funds (RLFs)

Local Business Sustainability Pilot Program Pays Off
Tucson | Jun. 15 | Access to Capital | Energy Finance | Public-Private Partnership (P3) Financing | Revolving Loan Funds (RLFs)

NEPA Alliance Announces New Revolving Loan Fund
Penn's Northeast | Jun. 15 | Access to Capital | Revolving Loan Funds (RLFs) | Rural Development | U.S. Dept. of Agriculture (USDA) | Access to Capital\Revolving Loan Funds (RLFs)

Huntingburg, IN to Add Solar Panels to Water Treatment Facility
The Herald | Jun. 12 | Revolving Loan Funds (RLFs) | Water Finance

Business Loan Fund Continues to Help Local Businesses
Conejos County Citizen | Jun. 12 | Access to Capital | Revolving Loan Funds (RLFs)


New Additions to the Online Resource Database

MOU Between the US EPA and the DHS FEMA Pertaining to State Revolving Fund Programs
Disaster Recovery & Relief | Federal | Revolving Loan Funds (RLFs) | State Finance Program | U.S. Environmental Protection Agency (EPA) | Water Finance
Memorandum of Understanding between the United States Environmental Protection Agency and the Department of Homeland Security Federal Emergency Management Agency Regarding Coordination between EPA and FEMA Pertaining to State Revolving Fund Programs.


The Council of Development Finance Agencies (CDFA) is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private, and non-profit entities alike. For more information, visit www.CDFA.net or email info@cdfa.net


Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net


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